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How To Conduct A Proper Bank Levy Asset Search

Successful Bank Levies Begin With A Proper Asset Search

Conducting a proper asset search on a potential judgment debtor is the first step for companies and individuals to secure owed repayments. An extensive asset search costs less than $300 and details an individual’s existing assets, such as real estate and other personal possessions. It will also give you a clear idea of any liabilities they might have, such as, other lawsuits, bankruptcies, state and federal tax liens, commercial code filings and state and federal criminal records.

Once this asset search is complete, you will then know which legal tools to use to recover the assets you’ve identified. You may want to start with some of the most common legal procedures, which we’ve outlined below.

Bank Levy Asset Search Tools

Writ of Execution – This is a regular court order that is given in order to satisfy a judgment granted to a plaintiff in a law court. The writ instructs the sheriff to seize the debtor’s non-exempt assets for sale at auction, and provide the plaintiff with the funds generated from the items sold

Turnover Order – This is an order commanding that a debtor turn all non-exempt assets over to the judgment winner, allowing the holder of a judgment to draw from all available possessions when the debtor’s property cannot quickly be secured through the legal process. This remedy is usually used when there are no other options to please the judgment

Bank Levy – An order that allows the creditor to secure funds from the debtor’s bank account

Blanket Levy – This process includes the serving of a Writ of Execution and a Bank Levy on every bank in the debtor’s residential area and presumes that the debtor’s bank of record is found within a brief distance of their home or employment

Debtor’s Examination – This is a legal proceeding during which the creditor may require that a debtor detail where his/her bank account is held and to answer any questions about existing earnings and possessions from which a judgment might be collected. Regrettably, the debtor has plenty of time to withdraw funds from their account prior to the examination

If you need help securing, preparing, filing or serving any of these documents, give JPL Process Service a call. Our staff is ready to assist you with any asset search concerns you might have, and can help you by email or phone at (866) 754-0520.